Global Mining Equipment Market Set to Grow
March 18, 2014
A new study by GrandView Research suggests that the global mining equipment market is expected to reach $147.69 billion by 2020. This growth is tied to the belief that an increase in mining operations including drilling and earth moving will coincide with a growing demand for specific mining equipment including shredders, loaders and crushers.
Mining operations depend heavily on mineral production regions including North America, Australia and South Africa. Recent water scarcity and droughts in these areas has resulted in the need for effective mining solutions. With the demand for mining solutions comes the need for specialized equipment that can improve operations.
While traditional mining equipment including cone crushers, ball mills, pulverizing equipment and sump pumps can be hazardous to fragile ecosystems, mining equipment manufacturers are being pressed to design hybrid equipment that will reduce the emission of harmful gases including carbon monoxide and sulfur oxides.